Historic Three-Unit
343-345 E Berger Street, Santa Fe, NM 87505
For Sale
$1,145,000
ResidentialIncome, Santa Fe, NM
Property Size3,934 SF
Lot Size0.32 Acres
Price / SF$291.05
Days on Market55
Property Features for 343-345 E Berger Street
General Information
Property type
Property subtype
Zoning
Zoning description
Bedrooms
Full bathrooms
Rooms
Parking features
Interior features
Appliances
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
Corcoran Plaza Properties
(505) 982-4466
Listed By:
Efrain Aguirre-Prieto · License NM #18614
(505) 470-6909
Added: Sep 17
Changed: Oct 31
Last Checked: Nov 10 at 6:06PM
MLS# 202603970
Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This historic triplex comprises approximately 3,934 square feet on a 0.32-acre parcel, with three separate residences and a 1937 construction date. The unit mix includes two two-bedroom, one-bath homes and one three-bedroom, two-bath residence. Interior details include hardwood and wood flooring, brick floors, built-in cabinetry, high ceilings, wood-beamed ceilings with corbels, fireplaces, kitchens, and a mudroom. Each residence has its own courtyard, while two single-car garages provide off-street parking.
The property is located in Santa Fe’s South Capitol neighborhood and carries Historic zoning. Public water and public sewer serve the compound. Its three-unit configuration supports residential occupancy, rental use, or multigenerational living, as described for the property.
The property is located in Santa Fe’s South Capitol neighborhood and carries Historic zoning. Public water and public sewer serve the compound. Its three-unit configuration supports residential occupancy, rental use, or multigenerational living, as described for the property.
Key Highlights
- Three‑unit property with two 2‑bedroom, 1‑bath residences and one 3‑bedroom, 2‑bath residence
- Approximately 3,934 square feet on 0.32 acres
- Built in 1937 with Historic zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,383
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,660
$1.2M
Cap Rate 7%
$834,043
$834.0K
Cap Rate 9%
$648,700
$648.7K
Market Conditions
NOI Build-Up for 3,934 SF
Gross rent
$87.3K $22.20/SF
− Vacancy
−$3.9K −$1.00/SF
EGI
$83.4K $21.20/SF
− OpEx
−$25.0K −$6.36/SF
NOI
$58.4K $14.84/SF
Area
Santa Fe County, NM
Vacancy
4.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,660
Cap Rate 7%
$834,043
Cap Rate 9%
$648,700
Alternative Uses
Best Use
Multifamily LT 5
$834.0K
$729.8K – $973.1K
NOI $58,383 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$771.1K
$674.7K – $899.6K
NOI $53,976 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.07M
$934.7K – $1.25M
NOI $74,777 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,890
Businesses Nearby
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Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Santa Fe, NM
Properties on Market for Triplexes in Santa Fe
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences combine period character, private courtyards, and off-street garage parking.
Where is this triplex located?
The property is located at 343-345 E Berger Street Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: Three‑unit property with two 2‑bedroom, 1‑bath residences and one 3‑bedroom, 2‑bath residence; Approximately 3,934 square feet on 0.32 acres; Built in 1937 with Historic zoning
